China told the World Trade Organization (WTO) on Tuesday that it wants to impose $7b. per year in sanctions against the United States in response to Washington's failure to comply with a US anti-dumping duty decision.
A request for a WTO permit to introduce sanctions will probably lead to years of legal disputes over the sanction case and the amount the US will have to pay.
China began the dispute in 2013, complaining about anti-dumping duties in the US with respect to several industries, including machinery and electronics, light industry, metals and minerals whose export value amounted to $8.4b.
China told the WTO that it wants to impose direct sanctions, as the country suffered $7.043b in damages for the past year.
But the current market reaction is far from the negativism that China is trying to hit on the markets. US indices are enjoying exceptional support, accumulating the warming of trade relations between the US, Canada and Europe. Investors expect a NAFTA deal as well as a deal between the US and Europe on free trade of cars.
Source: Reuters
Photo: Pixabay.com
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